The president just announced his pick to chair the Federal Reserve System. Subject to Senate confirmation, current Fed governor Jerome Jay Powell will succeed Janet Yellen as Fed chair in February 2018. Market reaction to this announcement has been sanguine, with commentators describing Powell as the continuity candidate.
It is perhaps strange that Powell should be so-described, when Janet Yellen was still in the running for a second term until very recently. The point, though, is that Powells views are much closer to Yellens than the other candidates interviewed by the…

The House Republican tax bill intensified a debate about whether the GOP is setting up a big giveaway to the rich, but there is a broader policy shift in the proposal: What matters isn’t just how rich you are, but how you are rich.

<p>The state is warming nearly twice as fast as the rest of the United States. The permafrost, a layer of frozen soil beneath 85 percent of it, is thawing, causing homes to sink and roads to buckle.</p>

House Republicans say they’re determined to simplify the U.S. tax code. A long-awaited provision in the massive tax bill they unveiled Thursday, a special rate for “pass-through” businesses, could do the opposite.

President Trump’s presumed pick to run the Federal Reserve has a hole in his resume: he’s not a trained economist. How he handles any doubts about his pedigree will be the story of his tenure at the helm of the powerful central bank.

President Trump’s presumed pick to run the Federal Reserve has a hole in his resume: he’s not a trained economist. How he handles any doubts about his pedigree will be the story of his tenure at the helm of the powerful central bank.